Jakarta Index Jumps from Record High to New Record High

Jakarta, MINA – The Jakarta composite index (JCI) hits a new record high closing at 6,444.51 points on Wednesday from previous all time high at 6,429.69 points on Tuesday.

The index of the Indonesian Stock Exchange (BEI) closed 14.82 points or 0.23 percent higher on reports of improved economic fundamentals of the country, Antara news reported, citing analysts.

Meanwhile, the index of 45 most liquid stocks dropped slightly 0.09 percent to 1,092.28 points.

BEI Chief Executive Tito Sulistio said the rising index at highest levels indicated the country`s economic fundamental was strong , prompting investors to buy shares.

The ups and downs of index reflected the economic condition, Tito said, adding an increase in index indicated stronger confidence of investors in the stock market.

The performances of listed companies were estimated to improve in 2017, he said.

Analyst of Indosurya Sekuritas William Surya Wijaya said foreign investors who have collected more shares was a factor pushing up IHSG higher.

Based on BEI data, there was foreign net buy of Rp112.47 billion in Wednesday trade.

Foreign funds, which have continued to enter the domestic market and rupiah stability kept a positive sentiment in the market,” William said.

Trade frequency was recorded at 450,731 transactions with 14.770 billion shares valued at Rp10.238 trillion changing hand.

Gainers outnumbered decliners by 192 to 156 stocks with 124 stock flat.

Regional markets such as Nikkei and Hang Seng recorded an increase in index but Straits Times closed lower on Wednesday. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)